4 Tips To Avoid Rejection Of Your Home Loan Application

Home loan is an invaluable tool for the home buyers. Most of the home buyers depend on home loan for financing the payment on the property purchase. The home loans at cheap rates help to make the dream of owning a new home a reality. Never make a mistake in the home loan application process as it troubles you much in the future. Here is a list of common mistakes that you should be aware of which may help you while you apply for a home loan.

1.    Not having sufficient fund to make the down payment

You should have a definite idea regarding how much you can pay as a down payment. The applicant is eligible to get a maximum of 80% of the property value as a home loan, so the remaining fund, 20%of the property value, should be arranged by yourself to make the down payment.

2.    Applying for a higher loan amount

Consider your financial condition when applying for the home loan and make sure you can repay the EMI.

3.    Choosing the wrong loan products

Different types of home loan products are there, choose the right one for you according to your needs.

4.    Ignoring credit score

Keep a healthy credit score if you are planning to buy a new home in the future. As your credit score influences your home loan eligibility.

Premium Residential Projects

Heather Homes, the top real estate developers of premium homes, apartments in Trivandrum, offers a list of world-class residential projects in Kerala. Heather Ferns, flats in Trivandrum, a premium quality apartment project in one of the prime locations in the city is available at 2, 2.5, 3 and 4 BHK variants.

To Know More  http://www.heatherhomes.in/apartments-in-trivandrum/